Bibtex export
@article{ Sondermann2009, title = {Estimating the degree of interventionist policies in the run-up to EMU}, author = {Sondermann, David and Trede, Mark and Wilfling, Bernd}, journal = {Applied Economics}, number = {2}, pages = {207-218}, volume = {43}, year = {2009}, doi = {https://doi.org/10.1080/00036840802481884}, urn = {https://nbn-resolving.org/urn:nbn:de:0168-ssoar-243024}, abstract = {Based on a theoretical monetary exchange-rate model in continuous time this paper establishes a sequential estimation framework which is capable of indicating central bank intervention in the run-up to a currency union. Using daily pre-EMU exchange-rate data for the countries of the current euro zone, we find mixed evidence of active pre-EMU intervention policies (so-called institutional frontloading strategies). Our estimation framework is highly relevant to economic and political agents operating in financial markets of the upcoming EMU accession countries.}, }